Unemployment Rate (Australia)
Steady Unemployment Rate in Australia
Starts Wednesday, October 17, 2018 at 03:41
Updated Monday, October 15, 2018
The unemployment rate has been holding steady at 5.6% in average for the past year in Australia. Although, in June the unemployment rate declined to 5.4% and it remained at that level in July as well, while in August unemployment fell again to 5.3% but it remained unchanged in September and it is expected to be the same this month again. Please follow us for live coverage of this event and the impact it might have on related currencies by experienced market analysts.
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About Unemployment Rate (Australia)
Released by the Australian Bureau of Statistics, the Unemployment Rate is the number of unemployed workers represented as a percentage of the aggregate civilian labor force. Abnormally high or growing Unemployment statistics are an indication of economic slowdown.Unemployment is a primary economic metric. Its performance is viewed as being correlated with consumer confidence, consumer spending, and industrial growth. Being a top 20 global power in terms of GDP, Australia depends heavily on its industrial and services sectors for output. Mining, food processing, steel, and chemical production play large roles in Australian industry.A high Unemployment reading is interpreted as bearish toward the AUD. Low or shrinking Unemployment fosters positive sentiment toward the AUD.